324 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 324 shares of the financial services provider's stock, valued at approximately $305,000.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after buying an additional 203,656 shares during the period. Mutual Advisors LLC boosted its position in Equinix by 14.5% during the fourth quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider's stock valued at $725,000 after purchasing an additional 100 shares in the last quarter. Montecito Bank & Trust grew its position in shares of Equinix by 3.1% in the 4th quarter. Montecito Bank & Trust now owns 436 shares of the financial services provider's stock worth $411,000 after buying an additional 13 shares during the last quarter. Brighton Jones LLC boosted its holdings in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 73 shares during the last quarter. Finally, RFG Advisory LLC lifted its position in Equinix by 4.7% during the fourth quarter. RFG Advisory LLC now owns 335 shares of the financial services provider's stock worth $316,000 after buying an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Stock Up 0.3%

Shares of NASDAQ:EQIX traded up $2.27 during trading on Friday, hitting $889.70. The company's stock had a trading volume of 134,448 shares, compared to its average volume of 523,401. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $87.03 billion, a PE ratio of 103.99, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The business has a 50 day moving average price of $830.09 and a two-hundred day moving average price of $890.83.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.86 earnings per share. As a group, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider now directly owns 1,842 shares of the company's stock, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on EQIX shares. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. JMP Securities restated a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research report on Friday, May 23rd. Stifel Nicolaus increased their price objective on Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Barclays raised their price objective on Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Truist Financial lowered their price target on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus price target of $1,004.80.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.